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the sequester for flight delay. it is just another example of shoddy management by the faa. lori: gas prices are tank. why good news may still be on the way. melissa: fed watchers in full speculation mode as bernanke has he will skip jackson hole. a first for a federal chairman in 25 years. what does it mean? now, to the floor of the new york stock exchange. nicole petallides. nicole: we will get to some of the home builders in a second. right now you have a mixed market. the dow jones pulling back a bit. that 2.2%. last week was a rough week for the dow jones industrials. there is the tech heavy nasdaq. there is a look right now at how we have done so far. obviously, you can see that we have had a nice run this year. i wanted to also take a look at some of the homebuilders. we got in some existing home sales. pound .6% month over month. that is not good news there. the home prices that you saw word. back to you. lori: seasonally strong time of year for home sales. overall, the u.s. economy is running below its historical trend. this is a study done by the index. my next guest says the econo
including new york's laguardia. the faa saying yesterday there were some 400 flight delays because of these furloughs in the air traffic control towers from airline industry could experience on someday 7000 flight delays. critics say the faa absolutely has the authority in the budget to cut elsewhere, and so there's a debate on whether or not the faa and government have a choice. >> we believe the faa has the discretion not to furlough the air traffic controllers, historically have never, ever in any situation been furloughs before because the frontline safety professionals keep the planes in the air, get them to the ground and keep travelers moving, keep shipping moving and that is critical to our economy, does not have to be this way. >> we believe the way their plan is constructed is going to maximize the disruption assuming it rules out and disruptions occurred. not a good situation. rich: the obama administration says the altar of the faa staff is personnel workers, the only way to comply with the numbers of these automatic but it cuts is you have to furlough air traffic contr
the federal aviation administration saying that these should be put off. they say the law allows the faa and the administration to cut somewhere else in the 16 billion-dollar annual budget of the faa. they say the way the faa were cuts makes the delays even worse. >> under the applicable laws. the faa has the authority or the discretion to find the money elsewhere. not to lay off the workers. and, therefore, to protect the traveling and shipping public, the faa should not furlough the air traffic controllers. now congressional republicans charge the way the administration has structured this is simply for political reasons. the administration says that's absolutely not the case. they say the way is law isten o other choices than to furlough these air traffic controller if they have to reach the savings that the law requires, shep. >> >> shepard: we are expecting it to say four different flight delays faa is saying. airlines anywhere between 6700. about a quarter of the flight traffic in this country daily. in a statement the faa says they will be working with the airlines and using traff
them to the ground. rich: we have contacted the faa repeatedly this morning. take a look at the numbers. 16 billion a year. total employees for the faa, 47,000. 50,000 of them are air traffic controllers. they are supposed to take one day off every other week. to you. connell: rich, thank you. let's go to the fourth opinion editor. he joins us from washington delta. the politics of this is interesting. we are just getting started this week. what is the political impact, in your view? >> i think political impact is very bad. it's a black guy for the obama administration, congress and the faa. this is going to come back and haunt washington in a major way. connell: you said it would be disastrous for the administration. why? >> well, i think ultimately the jury understands there are always ways to cut spending. it would make the obama administration appear as though it is making six. there has to be some other way to reduce expenditures that do not impact flight times and everything. do not think this looks good for congress or the obama administration. connell: most people believe that i
to be affected. if they cough, we catch cold. >> reporter: airlines filed a lawsuit against the faa on friday asking a federal court to stop the furlough of air traffic controllers. faa officials have declined to comment on e suit. livet sfo, elissa harrington, kpix 5. >> thank you. earlier this month, the faa delayed the closure of control towers at 149 airports until june. >>> checking bay area headlines this morning, richmond police are searching for two gunmen who shot and injured a man on saturday night on griffin drive. police found the victim in his car. they say the man was targeted. witnesses say the suspects got away in a white suv shortly after the shooting. that was around 8 p.m. on saturday. >>> in hayward a young man who was shot has died. the 26-year-old man was shot saturday around 10 p.m. in the driveway of a home on franklin avenue. he was taken to a hospital for emergency treatment but died of his injuries yesterday. so far, police have no suspects. >>> in alameda, a coast guard cutter has returned home greeted by joyous families yesterday. they spent three months in wateut
. faa furloughs, they just kicked in. some delays now appearing late yesterday in and is around new york. this st for the first time with travelers waiting more than an hour. delays were seen at other airports in the u.s. the faa furloughs affect 47,000 employees, including nearly 13,000 air traffic controllers. experts say the first real test is today when traffic increases and you remember, you saw all these stories, even last week saying the sequester doesn't matter. >> because a lot of the stuff hasn't kicked in. now, if things don't matter this week, then you can say they really don't matter. >> so this is the test one way or the other. we're going to talk to mike boyd about all this and more. >> in economic news, a business economist says washington's budget tightening is having a minimal effect on business. 93% of those surveyed say political developments had no effect if the first quarter and 95% say they had no impact on capital spending plans. among the biggest concerns, global economic conditions and the potential for further government spending cuts and the regulatory environ
. that is because there are fewer air traffic controllers on the job. the faa called for two furlough days for every two-week period to cut more than $600 million from the budget. airlines filed a lawsuit on friday asking a federal court to stop the furlough of air traffic controllers. they say that these cuts in hours will result in travel delays of up to an hour. a travel industry analyst says what's happening is political gamesmanship. >> the faa was shut down a few years ago, flights weren't affected. it seems to me like there is a request or directive out there to take steps so that passengers will be inconvenienced and that they will call their elected officials to get them to take action. >> reporter: here's a live picture of mineta san jose international airport. i only found one 30-minute delay this morning and a couple of 10-minute delays in oakland and sfo is on time. even if sfo avoids furloughs, travelers here could still feel the pinch because of the domino effect from delays at connecting airports. at sfo, elissa harrington, kpix 5. >> airlines say up to 6700 flights per day could be
'll get the analyst behind that call ahead. >> also the sequester effect on travel. >> faa employee furloughs and our major airport delays and all in the future and former department of transportation inspector mary shafo live. another monday morning, david, in which you've propelled a major dow component, microsoft up over 4% on the news that an activist shareholder is buying a $2 billion stake. so i think by my calculations you've created on that report about $2.5 billion of value so far this monday morning. >> simon, it's the value being created by the news itself, not the fact that i've reported it and we've been able to tell people that value act, large activist fund that often does take large positions in companies and actually doesn't get active if things go their way have taken a $2 billion position. on a relative bases it's 1% or less than 1% overall is what it would amount to of the outstanding shares of microsoft. that being said, valueact does have a history of holding stakes for quite some period of time, monitoring those companies and their managements and then getting
air traffic controllers on the job this morning. the faa called for two furlough days for every two-week period to cut more than $600 million from the budget. airlines filed a lawsuit on friday to stop the furlough of air traffic controllers saying the cuts will result in delays up to an hour at major airports and hubs throughout the country. travel industry analysts say what's happening is political gamesmanship. >> the faa was shut down a few years ago. flights weren't affected. it seems to me like there is a request or directive out there to take steps so passengers will be inconvenienced and they will call their elected officials to get them to take action. >> reporter: now let's see what's happeninat airports around the this is live picture of mineta san jose international airport. i found three delays there this morning. the longest, 30 minutes. only a couple of 10-minute delays in oakland. and a few delays here at sfo, as well. now, even if sfo avoids furloughs, passengers could still feel the pinch because of the domino effect from delays at connecting airports. and speaking
on the faa . the worst delays on east coast, including new york's laguardia, one out of 5 tier oeveryfive flights before noon s delayed. congressional republicans say, bull. they charge obama administration is structuring cuts to make them as painful and obvious as possible. >> federal reserve chairman ben bernanke will not be at jac jacn hole sim this year. my next guest said that we're seeing a slowdown in the economy after a stock first quarter, joining us, wells fargo chief economist, john sylvia, you see a slowdown here? >> there is a slowdown that is what bothered market, stock market a little bit, we a single family housing stocks, retail sales disappointing. building into the commodity market, chinese economic growth is disappointing. people at the inning of year think this economy will take off, and earnings will be strong, then as year goes down they tamper down those expectations. >> you know there is one stock that stands a metaphor, caterpillar, we see them with disappointining results off 42 their earnings, because they are off in the mining sector, but they tell us about go
ship. >> when the faa was shut down a few years ago flights weren't affected. it seems there is a request or directive out there to take steps so that passengers will be inconvenienced so they will call their elected officials to get them to take action. >> reporter: ray lahood says the furloughs of air traffic controllers is a dumb idea. now might be a good time to download an airline flight app for your smartphone it won't take much to make a mess of flight schedules. >> one bad storm and that will ruin everything. >> last week we had a bad storm in chicago and that airport came to a near close. that's with everybody in their jobs. >> reporter: everyone in federal government associated with the flight controllers furlough plan seems to be saying it's not my fault. but we vice-president heard anyone say they have a plan to fix it. at zap fran international don knapp can -p i, 5. >>> they are asking a federal court to stop the furlough of air traffic controllers. they say the cuts are compromising the safety and efficiency of the airline industry. >>> checking ba
: analysts are saying what is happening is political game manship. >> when the faa was shutdown a few years ago flights not effected. it seems to me there is a request or directive out there to take it so passengers will be inconveniences and they will call their elected officials to get them to take action. >> reporter: even the secretary of transportation says the furloughs of air traffic controller says dumb idea saying it is a meat axe approach to budgeting. now might be a good time to download an airline flight app to your sphort phone. tell not take much to make a mess. >> all it takes is one bad storm and it will ruin everything. last week a bad storm in tkh-g and that airport came to a near close. and that is with everybody in their jobs. >> reporter: it seems like everybody in government is saying it is not my fault and nobody is making an effort to do anything about it. >> typical. so, we know the airlines are fighting back. trying to stop the furloughs, but what exactly are they doing, do you know? >> reporter: well, one thing we know is they filed a federal lawsuit at a washi
union is asking a federal court stop the furlough of air traffic controllers. faa officials declined to comment. >>> checking bay area headlines, richmond police are searching for two gunmen that shot and injured a man last night. it happened in the 600 block of griffin drive. they say the suspects got away. >>> the victim of a shooting last night died today. the police have not released the identity of the 26-year-old victim yet. we know he was shot just before 10:00 a.m. in the driveway of a home on franklin avenue. he was taken to the hospital for emergency treatment but died of his injuries this morning. so far the police have no suspects. >>> in alameda, a coast guard cutter returned home today. families lined the dock to greet their loved ones. the cutter spent three months, uncovered 18,000 miles in the waters off of southern california. during that time they rescued two people on a sailboat and seized a boat carrying two tons of marijuana. >>> people who have been evacuate friday their homes in west texas were allowed back today after the deadly explosion at a fertilizer plan
to the viewers out west. on the first day of faa furloughs, there were delays. but the airlines saying don't blame us. the biggest delays hit los angeles international first. last night the federal aviation administration reported a staffing problem causing some arriving flights to run an average of three hours and seven minutes late. >> we're going to crater the entire system. orter: the nation's airlines and biggest pilots union say it points to troubles ahead. their plan to furlough air traffic controllers, forcing them to tay home one day every other week will bring the system to a grinding halt. >> it will be like having hurricane sandy in the north and hurricane katrina in the south at the same time. >> reporter: so they're suing the faa to postpone the furloughs but the faa says it's the only way to slash $637 million from its budget, cuts required by congress. the busiest airports are expected to take the hardest hits. maximum delays at atlanta's hartsfield-jackson could reach 3 1/2 hours. chicago's o'hare, more than two. and at new york's laguardia, nearl
closures and it is really at the mercy of the faa. >> some of the airlines have started to react. delta has said it is disappointed and warned travellers to expect delays in major cities that we've already outlined. what are the other things we're hearing from the airlines? >> basically the airlines are saying the faa has other options. they can cut their budget in other places. the fax says no. this is how we have to go ahead and do it. the airlines have taken the fax to court over this of they filed a lawsuit on friday. there is no hearing date set for that. everybody is watching closely to see if the courts change the decision. >> what do you know about this newark situation, the flights having to return as a result of the washington controllers being, quote, overwhelmed? >> you have a regional air traffic facility that handle flights going from new york to let's say, florida. a lot of the flights heading over the washington air space were overwhelming the number of reduced workers there. they said we're sorry. you have to turn around and come back. >> what's next? >> next we'll watch wh
controllers at home. the biggest delays are predicted at l.a.x., o'hare, and laguardia. the faa slashed the budget by more than $600 million. mark rosenker, a former ntsb nannal list and cbs responsibility says the delays could hit for hours. >>> we're going to see delays for the carriers, the passengers, and frankly i believe for the economy. >>> the country's largest pilots union and the airline is trade association are suing to stop the fur lou. asian markets were mostly higher. tokyo's nikkei added about 2% to a nearly 5-year high. hong kong's hang seng added a fraction. essentially major countries including apple, ford, exxonmobil, will release their earnings this week. it comes as they finish their worst week since november. the dow lost 317 points while nasdaq lofrt nearly 89. there's good news at the pump with a gallon of gas dropping 11 cents. the lung berg survey now finds the total. tulsa has the cheapest at $3.21 a gaon while chicago is the most expensive in the continental u.s. at 3.97. >>> oblivion beat the competition at the box office this weekend. the sigh-fie thriller
have to prepare for long lines. government budget cuts that kicked in last month are forcing the faa and other agencies to cut some spending. f furloughs kicked in yesterday. the agency will furlough some 15,000 air traffic controllers. because of the cuts airports say passengers should expect increased delays. the length of the delays will vary depending on the schedule and situation at each specific airport. employees at the epa, office of management and budget, also face furloughs starting this week. >>> residents and investigators continue their search today through the destruction in west, texas, to try to figure out what caused the fertilizer plant there to explode. investigators say they found the origin of the explosion, but they still don't know what caused the initial fire that led to the blast last wednesday. fertilizer company is working closely with authorities to aid the investigation. the death toll from the blast remains at 14. a public memorial for first responders will take place in the town later this week. by the way, all the presidents, ex and otherwise will be i
. soon they'll be facing long waits at the terminal as well. last week the f.a.a. -- that the federal aviation administration -- announced it's starting this week thousands of flights every day that will be delayed for up to three hours because of the devastating, ash administer cuts of -- ash terror cuts of sequester strags, the f.a.a. is forced to furlough thousands of workers. this could lead to 6,700 flight delays eay this summer. i repeat, every day 6,700 delayed flights. by comparison, the worst travel day of last year 2012 was about 3,000 flights being delayed. this was after severe thunderstorms accompanied by two-inch hailstorms, and a 90-mile-an-hour wind that wiped across the northeast and a tornado touched down in new york. that, mr. president, caused 3,000 flight delays. on any day if this sequester strags kicks in, it will double that. travelers were stranded at airports across the country during that real bad day we had last week. some were stranded for days. mr. president, it's going to be worse than that. as i said, this summer more than twice that number of flights w
airports. those delays mainly because of the furloughs at the 13 largest airports. faa warning in some cases passengers could see delays up to 90 minutes or more. that is nationwide. this is all part of the sequestration cuts imposed by congress in order try and save more than $600 million. we'll have a look at your local weather and traffic right after this break. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! ♪ wow. [ buzz ] delicious, right? yeah. it's the honey, it makes it taste so... ♪ well, would you look at the time... what's the rush? bee happy. bee healthy. with clusters of flakes and o's. oh, ho ho... it's the honey sweetness. i...i mean, you...love. >>> current temperatures already showing numbers closing in on 80 around livermore, fairfield. some of the warmer places we'll see. slight offshore breeze. we should see the sea breeze kick in later this afternoon. but in the meantime upper 80s to low 90s for valley temperatures, 70s closer to san francisco. cooler temperatures start to arrive tomorrow. more
Search Results 0 to 18 of about 19